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Below is an Interesting article I found, which says that.....Do not 8 ]- S( o. S2 k9 ~4 {4 a( a
expect much from Crude Oil producers and future is not with the $ @; `" N) _8 K5 _# e
companies producing Jet fuels but Biofuels. Also no wonder if some of
7 I1 @: L+ \2 l$ s4 ~( Nthese oil producer will go bankrupt or out of the business even if " `& y: w" [1 T) x+ v# i; F
crude prices improves. This implies also to good names such as Shell, 5 a% _# q1 o, E4 m* B+ O# {
EXXON, BG, BP, Cheveron ....xyz.. oils
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: L- t. m* j0 q1 @& e) WRecently OPEC reduced crude oil production twice over just a few 6 }7 ^2 Z; [- ?0 Q% h4 H
months. There are three wars going on in Gaza, Iraq and Afghandistan.
_+ `6 ^$ b0 X- j$ qA year ago these things would have spiked the price of crude oil by at ) r) O! @, Y0 o) e, V+ o$ Q
least $50.00 per barrel. Today, oil price declined by a record amount. ) z% e4 A. ^0 G( `1 Q2 H! t% t- o
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( Z$ B: R$ E2 RThere are several reasons the price of oil is decreasing in the face
. V& G$ L" _/ s; N8 R; |of so much news. These reasons are: ' X; |& \6 A! \/ \ a5 }
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1. New oil has been found in Canada, Montana, North & South Dakota and 4 L, Z6 f+ g; V' f8 v, E$ Z. T$ ~# O
in the ocean near Brazil. Each of these oil fields has more oil than $ a( O! i# d: I; B5 j
Arabia.
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Y3 m3 T: M( C) U# \# m2. New natural gas has been found in Pennsylvania and West Virginia. 8 x: t6 |' J( g
This is the largest find in North America. \% u: A" y: z4 Z' d3 ~) ?, E
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3. New methods of injecting CO2 and surfactants into oil wells is
+ o& a9 b+ [- }$ C& p {9 Ebeing used to double their output.
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7 g; |' z% b: d0 w; ~8 z( j9 k0 M4. Production of bio-fuels is beginning to reach critical mass. Bio ( z4 B- q, r& s: g
fuel is being produced from many plants and algae. The production 9 S% E% a* d, d% v6 h- ]2 L d3 s% ?
potential per acre in some cases is astounding. Many countries are 8 _$ s$ A1 Y9 [, j7 u4 _6 R0 y, p( d
racing to produce bio fuels.
4 m1 Z& k# x d" U s- X% ?- ^
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7 r4 \7 A p- N( t: T" }5. Virtually every restaurant in the US and all food processing plants 2 B) U4 \) k7 u* F$ B) t2 E
are now selling their used oil to bio-diesel producers. Every pork, 7 A) {$ ~! b: ]. Y; [
cattle, turkey and chicken processing plant will soon sell their fat # P2 Y6 A/ t2 |( [# R
to bio-diesel producers. One pork processing plant in Oklahoma is
: x2 g0 _. r$ ]+ Z! e3 J+ v1 zproducing 30,000 gallons of bio-diesel per day from pork fat. 3 k& G( ?8 Q# Y ?6 X
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6. There are 99 nuclear reactors in various stages of planning and # P+ ?; r! n! e* D" _% W3 p
construction around the world at this time. Several hundred more are
3 f' D. v( {& ~! W6 Texpected to be built in the future. Much of the energy they produce - B$ j M' C$ j1 x5 S4 C# J
will replace oil. 8 n( l* A* m% ]: u; Y+ m d0 R8 z
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$ L6 ?+ K } y* P c8 Z$ ]7. Every company in any form of transportaion business is replacing
4 z8 R$ j3 `# `" G- uolder equipment such as trucks, airplanes, train engines, ships, etc.
' u8 C" U* Y2 q! hwith new more fuel efficient equipment. Airlines and railway companies
4 x0 ? l/ [* j' Qare experiencing 20% to 25% better fuel econony with the new - X& O* u( `3 V* ?- y, Z0 d2 o
equipment. x3 b4 x$ v$ o* a; g$ @
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Airlines are flying airplanes with bio-fuel. They are finding the bio- 9 M9 {5 u R* K$ U' @
fuel is cleaner and performs better than jet fuel. . n; D4 l5 ~/ ^7 M
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' H& X. ~2 ?4 c/ ^8. Cities and counties throughout the US are selling the rights to
. }; \; k2 m, W! T7 F7 Icapture methane gas from landfills. This is a huge source of gas & d" M1 E. k8 i
available at very little cost or risk. The gas is displacing crude
) v, ]0 B! s& \$ zoil. ! B% V2 a# z0 u3 n n P6 t* O, i
4 t8 F3 ~0 }* ]. N% C2 e
4 ]2 \5 ]- `; U$ k' N: c9. Coal is being transformed into a clean burning liquid fuel. The CO2
7 k- F4 U6 G) b5 x( P+ L9 t/ Kproduced as a byproduct is sold to oil companies for injection into 7 L+ a; d) t" E+ a2 C: x3 o+ c: z) u
oil wells. 0 r( N0 N7 o6 f- i W# t
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10. Solar, wind and ocean energy is displacing oil as an energy
/ D) g% `" u# S! _. o% r- Osource. Three new wind turbines are being erected every day in the US.
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! r! A2 g1 O7 u' t/ QEach of the above by itself will not make a large difference in the 3 _4 P6 X5 \3 G5 y* k7 ~, Y
price of crude oil but the sum of all of them together is world ' D/ \. t& E" b5 X
changing. The important thing is that OPEC no longer has the ability ' t; Z1 Z+ d- h1 H( L
to control oil prices.
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$ L+ q( E7 H! ?5 i iWith the above scenario, I still believe that there are under
5 s* F# \# s% L( k4 J- c1 ~0 Zperformed OIL companies and probably they are yet to get the justified 1 Q: _1 W# ~/ i6 _& Y( i
value ..... . m- |- Z4 N6 n& [
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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9 J9 o3 ^2 s: l& @: UThe above articles are from WSJ .............PUBLISHED ON 9TH JAN 8 f/ \. ]. n5 Q' i% z
2009 ... FYI-Only |
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